Maverick Natural Resources Acquires Permian Basin Producing Properties
HOUSTON, TEXAS, January 28, 2022 – (BUSINESS WIRE)--Maverick Natural Resources (“Maverick”) announced today that it has entered into a definitive agreement to acquire certain producing properties in the Permian Basin from ConocoPhillips for a purchase price of $440 million, subject to customary adjustments, with an effective date of September 1, 2021. The assets to be acquired produced over 11,000 boepd (50% oil) from the Central Basin Platform and Northwest Shelf of the Permian Basin during September 2021. The position spans approximately 144,500 net acres across Andrews (Texas), Ector (Texas), Eddy (N.M.), and Lea (N.M.) Counties and is largely operated and held by production.
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